SVMK Inc (NASDAQ:SVMK) Short Interest Up 17.4% in June
SVMK Inc (NASDAQ:SVMK) was the target of a significant growth in short interest during the month of June. As of June 30th, there was short interest totalling 5,861,000 shares, a growth of 17.4% from the May 30th total of 4,994,000 shares. Based on an average daily trading volume, of 1,560,000 shares, the days-to-cover ratio is currently 3.8 days. Currently, 6.4% of the shares of the company are sold short.
In other news, SVP Lora D. Blum sold 1,772 shares of the company’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $16.84, for a total value of $29,840.48. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Tiger Global Management Llc sold 4,500,000 shares of the company’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $15.82, for a total transaction of $71,190,000.00. The disclosure for this sale can be found here. Insiders sold 4,572,078 shares of company stock valued at $72,373,913 over the last 90 days. 26.30% of the stock is owned by corporate insiders.
Several institutional investors have recently made changes to their positions in the company. Pennsylvania Trust Co acquired a new stake in SVMK during the 1st quarter worth about $433,000. Geode Capital Management LLC raised its position in shares of SVMK by 240.9% during the 4th quarter. Geode Capital Management LLC now owns 249,165 shares of the company’s stock valued at $3,057,000 after buying an additional 176,065 shares during the period. Northern Trust Corp raised its position in shares of SVMK by 354.9% during the 4th quarter. Northern Trust Corp now owns 247,733 shares of the company’s stock valued at $3,040,000 after buying an additional 193,279 shares during the period. Stephens Inc. AR acquired a new stake in SVMK in the 1st quarter valued at approximately $835,000. Finally, MetLife Investment Advisors LLC acquired a new stake in SVMK in the 4th quarter valued at approximately $187,000. Hedge funds and other institutional investors own 72.02% of the company’s stock.
SVMK (NASDAQ:SVMK) last announced its quarterly earnings data on Wednesday, May 8th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.13. The business had revenue of $68.64 million during the quarter, compared to the consensus estimate of $68.13 million. The firm’s revenue for the quarter was up 17.4% compared to the same quarter last year. During the same quarter last year, the company earned ($0.06) EPS. As a group, research analysts anticipate that SVMK will post -0.58 EPS for the current year.
A number of research firms have issued reports on SVMK. Zacks Investment Research downgraded shares of Yatra Online from a “hold” rating to a “sell” rating in a research report on Saturday, July 6th. JPMorgan Chase & Co. lowered their target price on 3M from $158.00 to $154.00 and set an “underweight” rating for the company in a research note on Friday, March 29th. Stephens set a $5.00 price target on shares of YRC Worldwide and gave the stock a “hold” rating in a research note on Friday, March 22nd. Finally, SunTrust Banks cut shares of Shutterfly from a “buy” rating to a “hold” rating and set a $57.00 price target for the company. in a research note on Monday, June 10th. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $16.75.
SVMK Inc provides survey software products and purpose-built solutions that enable organizations to engage with their customers, employees, and the markets they serve in the United States and internationally. Its cloud-based SaaS platform helps individuals and organizations to design and distribute surveys that generate an average of approximately 20 million answered questions daily across approximately 190 countries and territories.
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